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Alrosa Sales Plummet Amid Mine Suspensions

Jun 10, 2018 5:09 AM   By Rapaport News
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RAPAPORT... Alrosa’s sales plunged 39% to $288 million in May due to a pause in activities at some of the company’s mines.

“There was a planned decrease in sales in May compared to the similar period last year due to the sale of...inventories...[at] the beginning of the year and a seasonal decline in the current production, mostly driven by mining suspension at some alluvial deposits in the first months of the year,” Alrosa deputy CEO Yury Okoemov said Friday.

Rough-diamond sales dropped 41% year on year to $277.5 million, while polished revenue more than doubled to $10.5 million from $4.5 million.

Total sales for the first five months of the year increased 8% to $2.3 billion. Rough sales for the January-to-May period also increased 8% to $2.26 billion, with revenue from polished diamonds dropping 2% to $43.3 million.

Image: Alrosa
Tags: alluvial mines, Alrosa, Rapaport News, Yury Okoemov
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